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Victory if in fact it does happen, you know, have the votes to take it down unless some of the republicans see the light. >> reporter: and pelosi sharing the reality here. this is a republican issue. they don't need to worry about democrats if they can get their members in line. that the point, it simply hasn't happened yet. >> phil, as you know, the president, republicans, they call this a massive tax cut for the middle class. when you look at the numbers, actually, is this more of a corporate than an individual tax cut? >> reporter: look, no question. you put up the numbers right now, you lo...

Personal income tax rate from 39.6% to 37%. it cuts the corporate income tax rate to 21% instead of the 20% that was in both the house and senate bills. it limits the state and local tax deductibility to $10,000 total for property taxes or state income taxes. and it limits the mortgage interest deduction to loans of $750,000 or less. we're joined by gene spurling, former director of national economic council of presidents obama and back with us is john heilman. what do you make of the vaguely described compromise bill? >> well, it stays a lot, right? you had a bill that blew a hole in the defi...

Cuts the top individual rate from 39.6% to 37%. the state and local tax deductions at $10,000 giving them flexibly, presumably satisfying high tax states like new york, new jersey and california who are most affected by the original plan and repeals the obamacare individual mandate. don't expect any democrats to supported. ron wyden calls it a betrayal. >> this is the ultimate betrayal of the middle-class, it doesn't give middle-class americans the tax-cut they deserve now and takes away medicare and social security later. heather: never a done deal until it is done, this is washington. report...

Of democrats. can this work and work in time for christmas? here now with how, congressman adam kinzinger after that trip down memory lane, congressman, good to see you. >> i get chills every time i hear ronald reagan. i get chills. he is great. >> martha: that's why we did it we played it just for you. >> good job. >> martha: i want to play some of these numbers. looks like the tax rate 39.6 to 37%. that's an effort to calm the anxious waters in the state and local tax deduction states. is that going to work? and does it get them there? >> i think. so i don't, you know, obviously we don't kno...

Senators because they've doubled the size of the child credit. it used to start to phase out $110,000 which isn't much. that doesn't help a lot of families. now it goes up to $500,000. i will tell you, they've really done one of the biggest impacts for families in this code already, and so look, i think we're just about ready to finish this off. >> you don't think there will be any more? >> i don't know exactly where the senate's working on that, but, you know, we're -- we're at the clock. >> i want to ask you, you guys the option and decided to leave the top rate at 39.6 where it stands, repo...